Authorizing Revenue Bond Metalstamp Inc

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Economic Development First Mortgage Revenue Bond, Series 1974 (Metalstamp, Inc.), in the total principal amount of Four Hundred Fifty Thousand Dollars ($450,000.00) for the purpose of procuring funds to pay the cost of constructing and equipping the additional facilities, as more particularly set out in the Amended Lease Agreement, Mortgage and Indenture of Trust, incor- porated herein by reference, which bond will be payable as to principal, premium, if any, and interest solely from the rentals, revenues, and other income realized under or as otherwise provided in the Amended Lease Agreement, Mortgage and Indenture of Trust. Section 4. The Mayor and City Clerk are authorized and directed to execute ahe documents approved herein on behalf of the City of South Bend and any other document which may be nec- essary or desirable to complete the transaction, including the bond authorized herein. The City Clerk of the City of South Bend is authorized to arrange for the delivert of such bond to the purchaser thereof, payment for which shall be made to the trustee named in the Indenture. Section 5. The provisions of this ordinance and the Amended Lease Agreement, Mortgage and Indenture of Trust securing the bond shall constitute a contract binding between the City of South Bend and the holder of the Economic Development First Mortgage Revenue::Bond, Series 1974 (Metalstamp, Inc.), and after the issuance of said bond, this ordinance shall not be repealed or amended in any respect which would adversely affect the rights of such holder so long as said bond or the interest thereon remain unpaid. Section 6. This ordinance shall be in full force and effect from and after its passage and signing by the Mayor. Member of Council Adopted by the Common Council of the City of South Bend, Indiana, on this 27th day of January 19 Pres' dent Atteesst�:y' City Clerk